Shell and GXP Investments co-led the round, which also included WorldQuant Ventures, SV Tech Ventures and Meson Capital.

Axiom’s Refrigeration Battery uses the existing refrigeration system of a supermarket or cold storage facility to ‘store cooling’ at night by freezing tanks of salt water when electricity costs are low. The Refrigeration Battery ‘discharges’ during peak electricity pricing periods by providing uninterrupted cooling services to the facility